Romney's state funded solar panel developer went bankrupt

Timing is everything, Mitt. The day after Romney blasted Obama for the Solyndra collapse, Romney's own Solyndra filed for bankruptcy. Does this now mean that Mitt Romney is also a complete failure because one of his state loan investments went under? Boston Herald:

Lowell-based Konarka Technologies announced late yesterday that it filed for Chapter 7 bankruptcy protection and will cease operations, lay off its 85 workers and liquidate.

“Konarka has been unable to obtain additional financing, and given its current financial condition, it is unable to continue operations,” CEO Howard Berke said in a statement. “This is a tragedy for Konarka’s shareholders and employees and for the development of alternative energy in the United States.”

The demise of Konarka could become a hot topic on the campaign trail because Romney personally doled out a $1.5 million renewable energy subsidy to the Lowell startup in 2003, shortly after taking office on Beacon Hill.

Interestingly enough, this bankruptcy wasn't the first Romney state investment into solar to go belly up, but the second. More from Think Progress.

Timing is everything, Mitt. The day after Romney blasted Obama for the Solyndra collapse, Romney's own Solyndra filed for bankruptcy. Does this now mean that Mitt Romney is also a complete failure because one of his state loan investments went under? Boston Herald:

Lowell-based Konarka Technologies announced late yesterday that it filed for Chapter 7 bankruptcy protection and will cease operations, lay off its 85 workers and liquidate.

“Konarka has been unable to obtain additional financing, and given its current financial condition, it is unable to continue operations,” CEO Howard Berke said in a statement. “This is a tragedy for Konarka’s shareholders and employees and for the development of alternative energy in the United States.”

The demise of Konarka could become a hot topic on the campaign trail because Romney personally doled out a $1.5 million renewable energy subsidy to the Lowell startup in 2003, shortly after taking office on Beacon Hill.

Interestingly enough, this bankruptcy wasn't the first Romney state investment into solar to go belly up, but the second. More from Think Progress.

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